Scalper1 News
Major averages fell on lower volume yesterday, reversing latter in the day to close in the red after being up for much of the day. Despite QE on full bore and interest rates at all time lows, the high number of distribution days, and a market that is having issues gathering upside momentum both may be ill omens for the general market. To some extent this remains a market of stocks as opposed to a stock market, with opportunities emerging in individual names just when one least expects them. For example, network security software company CyberArk Software (CYBR) has rallied sharply up and off of its 50-day moving average so far this week and is set to gap-up this morning to retake the 60 price level. It had a pocket pivot yesterday as well. Earnings and sales are soaring, group rank 13. CYBR gapped up on its prior earnings report. Twitter (TWTR) also acts well here after a “voodoo” or extreme volume dry-up on the pullback to its 10-day moving average last Friday, and was up strongly yesterday on a pocket pivot volume signature. Scalper1 News
Scalper1 News